ABSTRACT

U.S.-Colombia Free Trade Agreement: Background and Issues [April 27, 2012]   [open pdf - 416KB]

"The U.S.-Colombia Free Trade Agreement, or U.S. Colombia Trade Promotion Agreement, as it is officially called, is a comprehensive free trade agreement (FTA) between the United States and Colombia, which will eventually eliminate tariffs and other barriers in bilateral trade in goods and services. On April 15, 2012, at the Summit of the Americas in Cartagena Colombia, President Barack Obama announced that the agreement would enter into force on May 15, 2012, sooner than many observers expected. The announcement came after completion of several months of work by both governments to review each other's laws and regulations related to the implementation of the FTA, as well as to Colombia's efforts to fulfill its set of commitments under the Action Plan Related to Labor Rights. […] The CFTA negotiations grew out of a regional effort in 2004 to produce a U.S.-Andean free trade agreement between the United States and the Andean countries of Colombia, Peru, and Ecuador. After numerous rounds of talks, however, negotiators failed to reach an agreement, and Colombia continued negotiations with the United States for a bilateral free trade agreement (FTA). On February 27, 2006, the United States and Colombia concluded the U.S.-Colombia FTA, and finalized the text of the agreement on July 8, 2006. On August 24, 2006, President Bush notified Congress of his intention to sign the U.S.-Colombia FTA. The two countries signed the agreement on November 22, 2006. The Colombian Congress approved the agreement in June 2007 and again in October 2007, after the agreement was modified to include new labor and environmental provisions."

Report Number:
CRS Report for Congress, RL34470
Author:
Publisher:
Date:
2012-04-27
Series:
Copyright:
Public Domain
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Via E-mail
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application/pdf
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